Wave summary:
Wave x should be completed soon for a new rally towards 132.00 and likely above it for continuation higher to 132.90. It will likely complete the corrective rally from 129.32 and turn prices lower again for the next part of the decline towards the ideal (E) wave target near 123.43.
R3: 1.7060
R2: 1.7007
R1: 1.6976
Pivot: 1.6924
S1: 1.6874
S2: 1.6830
S3: 1.6810
Trading recommendation:
We are long EUR from 1.6790 with stop placed at 1.6850. Upon a break above resistance at 1.7100 we will move our stop higher to 1.6950.
